Sandisk Corporation (SNDK): Leopold Aschenbrenner Is Backing This Memory Firm

We just covered From Fired Researcher to $13.7 Billion King: How Leopold Aschenbrenner Broke the Hedge Fund World and Sandisk Corporation (NASDAQ:SNDK) ranks 7th on this list.

Sandisk Corporation (NASDAQ:SNDK) has featured in the 13F portfolio of Situational Awareness LP since the third quarter of 2025. Back then, this position consisted of around 115,000 shares. In the fourth quarter of 2025, Leopold Aschenbrenner added to this holding by over 800%, growing it to over a million shares. Filings for the first quarter of 2026 reveal that the fund owns 1.14 million shares in the company, up 8% compared to the previous quarter. The firm develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the United States, Europe, the Middle East, Africa, Asia, and internationally. The share price of Sandisk has jumped over 600% in the past six months.

Sandisk Corporation (NASDAQ:SNDK) has emerged as one of the most important AI plays, with investment advisory Barclays terming memory the most attractive vertical below accelerators. Training advanced LLMs and running Agentic AI applications creates massive data lakes that require high-speed, non-volatile memory and Solid State Drives (SSDs) rather than traditional spinning hard drives. In fiscal Q3 2026 earnings, SanDisk reported that Enterprise SSD revenue surged 114% year-over-year. This enterprise push drove total corporate gross revenue well past consensus Wall Street estimates. Shifting the sales mix away from low-margin consumer micro-SD cards and USB drives toward premium AI-optimized Enterprise Data Center SSDs expanded corporate Gross Margin to 44.5%, up 1,200 basis points from the historical baseline.

While we acknowledge the risk and potential of SNDK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNDK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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